member firm

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Member firm

Used for listed equity securities. Brokerage firm that has at least one membership on a major stock exchange even though, by exchange rules, the membership in the name of an employee and not of the firm itself.

Member Firm

A broker-dealer firm in which at least one of the principal officers is allowed to trade on the floor of an exchange. To become a member, one needs to purchase a membership or a seat on the exchange, which can be very expensive. There are usually a set number of memberships to an exchange; for example, on the New York Stock Exchange, there are 1,366 seats, which may cost up to $1 million each, and which may be bought or sold to different firms. Most exchanges do not recognize member firms, only individual members; that is, they consider members to be the brokers or dealers on the floor, rather than the firms they represent.

member firm

A securities firm with officers or partners who are members of an organized securities exchange. National brokerage firms are generally members of a number of organized exchanges. Organized exchanges have established standards of conduct and financial conditions. See also ABC Agreement.
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While there is no single model, alliances generally share some common characteristics: There is usually an umbrella membership organization that does not provide professional services to the public, but rather is involved, at varying degrees, in the activities and interaction of its member firms.
Liability for someone else's sins: the risks of accounting firm alliances: protect your firm from vicarious liability
However, SECPS member firms made it clear that the AICPA should play an important role for them in the new regulatory environment by representing public company audit firms before the SEC and PCAOB, keeping them abreast of issues, and maintaining a peer review program for the firms' non-issuer practices that enables them to meet their state licensing, federal regulatory and AICPA membership requirements.
"Center for Public Company Audit Firms"--the New SECPS
Member Firms Will Enjoy Packaged Offerings Designed Specifically for Legal Community
New Jersey State Bar Association Names Glowpoint as Official Service Provider For IP-Based Videoconferencing
In keeping with its mission to serve as a comprehensive resource for member firms, the GAQC Web site offers relevant technical and practice management information through a convenient online source.
Governmental audit quality center is open for business: new AICPA center delivers tools and resources for CPA firms through a centralized Web site, www.aicpa.org/qagc
We want to create a situation where we can provide private equity firm principals with a relationship partner, or partners, who know how to quickly and efficiently access the resources of all Grant Thornton member firms as required to meet its needs and the needs of its portfolio companies.
Grant Thornton LLP Launches Private Equity Initiative
Provide a forum for member firms to discuss and express their views on matters that affect public company audits.
Highlights
Deloitte Touche Tohmatsu is an organization of member firms around the world devoted to excellence in providing professional services and advice, focused on client service through a global strategy executed locally in nearly 140 countries.
Positive Coaching Alliance Announces Teaming With Deloitte
Each of the SECPS's 1,300 member firms is required to establish a policy prohibiting auditors from engaging in such relationships.
AICPA raises bar on auditor independence
Through member firms in 112 countries, including 49 offices in the United States, the partners and employees of Grant Thornton member firms provide personalized attention and the highest quality service to public and private clients around the globe.
Grant Thornton Partner Nominated as Trustee of The Economic Club of New York
To provide a basis for additional communication on the effectiveness of QC programs, the SECPS commissioned a survey of member firms.
Self regulation: an assessment by SECPS members
and KPMG Huazhen are part of the KPMG network of independent member firms.
Synthesis Energy Systems Announces Move to U.S. Independent Auditors
Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms and their respective subsidiaries and affiliates.
EXTOL Named One of Greater Philadelphia's Fastest Growing Technology Companies in Deloitte's Technology Fast 50 Program, Attributes 49% Revenue Growth to Demand for Improved Supply Chain Performance

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